Tue, 08 Oct 2019 | BUSINESS SALE
Wythenshawe-based Liqui-Box Corporation has been successfully acquired by Ilkeston-headquartered Peak Packaging in a bid to address competition issues and gain customers in the UK.
Founded in 1992, Peak Packaging supports companies in the dairy, food, cosmetics, and biochemical industries by manufacturing and providing 1,000 litre liquid liners for the storage and transportation of liquid products.
The business has a presence in the English and Polish markets, and has invested in both its manufacturing sites in the past five years.
Liqui-Box entered into an agreement with the UK Competitions and Markets Authority (CMA) to facilitate its own takeover of DS Smith PLC’s plastic packaging division.
Robert Wheatley, the owner and chief executive of Peak Packaging, said: "The acquisition provides a fantastic opportunity for Peak Packaging to expand our well-established business manufacturing liquid liners and fitments.
"We will be working hard over the coming weeks and months to ensure a smooth transition of the customers and look forward to offering a wider product range going forward."
Adding to this, the chief executive of Liqui-Box, Ken Swanson, said: "We are happy to now have clearance in the UK and move one step closer to completing the acquisition of the DS Smith Plastic Division.
"Our team is prepared for a seamless hand off to Peak Packaging for customers in the UK and anticipate no service disruption for those outside of the UK."
Kirkland & Ellis International LLP advised Liqui-Box during the acquisition process, whilst Flint Bishop LLP and Gibson, Dunn & Crutcher LLP advised Peak Packaging.
Partners at Dains LLP provided financial due diligence services to support Peak during the acquisition.
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